Huawei CEO: Next Boss Won't Come from My Family

Telecom equipment maker Huawei Technologies won't be a family-run business for long.

In a letter sent to employees on Sunday and obtained by Reuters, Huawei CEO and founder Ren Zhengfei said that no one in his family will succeed him because he doesn't believe any relatives have all of the personal qualities necessary to effectively lead the company.

"Huawei's successor should not only have vision, character and ambition, like what we've said before, but also a good global perspective and the acumen to drive the business," Ren wrote, according to Reuters.